Denison Mines (NYSEAMERICAN:DNN) Trading Down 3.4% – Here’s What Happened

Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML) traded down 3.4% during mid-day trading on Wednesday . The company traded as low as $1.84 and last traded at $1.85. 2,625,813 shares were traded during trading, a decline of 83% from the average session volume of 15,803,475 shares. The stock had previously closed at $1.91.

Wall Street Analyst Weigh In

Several research firms have recently commented on DNN. Roth Capital upgraded Denison Mines to a “strong-buy” rating in a research note on Thursday, June 27th. Roth Mkm began coverage on shares of Denison Mines in a research report on Thursday, June 27th. They issued a “buy” rating and a $2.60 target price for the company. Scotiabank raised shares of Denison Mines to a “strong-buy” rating in a research report on Tuesday, July 2nd. CIBC began coverage on Denison Mines in a research note on Thursday, September 26th. They set a “sector outperform” rating and a $3.25 price objective on the stock. Finally, BMO Capital Markets upgraded Denison Mines from a “market perform” rating to an “outperform” rating in a research report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, three have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $2.93.

Denison Mines Trading Down 3.6 %

The firm has a market capitalization of $1.64 billion, a PE ratio of 27.29 and a beta of 1.70. The business’s 50 day simple moving average is $1.98.

Denison Mines (NYSEAMERICAN:DNN) (TSE:DML) last issued its quarterly earnings results on Thursday, August 8th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.01). Denison Mines had a return on equity of 9.45% and a net margin of 950.42%. The company had revenue of $0.97 million for the quarter, compared to analysts’ expectations of $0.80 million. As a group, equities research analysts anticipate that Denison Mines Corp. will post -0.06 EPS for the current fiscal year.

Institutional Investors Weigh In On Denison Mines

Several hedge funds have recently modified their holdings of the stock. &PARTNERS purchased a new position in Denison Mines during the 1st quarter worth approximately $34,000. RPS Advisory Solutions LLC acquired a new stake in shares of Denison Mines in the second quarter worth $46,000. Legacy Capital Group California Inc. grew its holdings in shares of Denison Mines by 131.7% during the second quarter. Legacy Capital Group California Inc. now owns 23,306 shares of the basic materials company’s stock valued at $46,000 after buying an additional 13,248 shares in the last quarter. Toronto Dominion Bank raised its position in Denison Mines by 39.4% during the second quarter. Toronto Dominion Bank now owns 23,969 shares of the basic materials company’s stock valued at $48,000 after buying an additional 6,777 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in Denison Mines in the 1st quarter worth about $51,000. 36.74% of the stock is owned by hedge funds and other institutional investors.

About Denison Mines

Denison Mines Corp. engages in the acquisition, exploration, and development of uranium bearing properties in Canada. Its flagship project is the Wheeler River uranium project covering an area of approximately 300,000 hectares located in the Athabasca Basin region in northern Saskatchewan. The company was formerly known as International Uranium Corporation and changed its name to Denison Mines Corp.